Condé Nast’s Flip Flops

Social networking site for teen girls to close December 16.

Flip.com, Condé Nast’s expensive social network/virtual scrapbooking outpost for teen girls, has officially flopped. The site, which Condé acquired in 2007, will be shuttered in two weeks.

Like most publishers, Condé Nast has been scrutinizing its portfolio in recent months looking to cut costs—including some 5 percent of its overall staff, according to various reports. Unlike most publishers, though, the company has not been shy about cutting back on the online side (see: Portfolio.com et al).